Willis completes Miller deal

Broker Willis has completed its investment in Miller with the acquisition of an 85 percent stake in the firm.

The deal combines the firms’ wholesale businesses to trade under the Miller brand, managed, governed and regulated as a standalone legal entity and separate Lloyd’s broker.

Wholesale broking activities encompassing a series of business units will transfer from Willis to Miller and Miller’s treaty reinsurance, UK corporate client and financial institutions retail teams will transfer to Willis.

Dominic Casserley, chief executive officer (CEO) of Willis, said: “The successful completion of this transaction combines the exceptional talent and capabilities of Willis and Miller, creating a platform for future growth. Bringing together complementary businesses under our respective brands adds further strength and depth to our client propositions.”

Graham Clarke, CEO of Miller, added: “I am delighted that we have concluded this transaction to create a unique partnership in our industry; one where we have preserved the values of Miller that matter to our clients – those of independent advice and where clients come first.

“By combining the strengths of our two firms, we will be able to offer additional expertise, experience and product knowledge. While we look back proudly on our long heritage, we are also looking forward to a new era of partnership.”